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He mainly stresses that there are no called strikes. You keep looking until you truly think you understand something. Until something is obvious to you. Munger focuses on overcoming biases and the importance of incentives. Brains aren't the hard part. Discipline is.
And they both talk how when you find it you need to bet BiG. And also good stocks are rare. Very rare. 10 card punch out or whatever Buffett always says
Peter Lynch had a similarly good track record and did it a lot differently. Many more stocks but with some leverage. Concentrated portfolios like Buffetts do not mix with significant leverage. Both talk about really understanding the business, though.
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